San Francisco-based blockchain firm Ripple, has continued to expand its long list of enterprise partners as it remains keen to foster cross-border payments through the blockchain technology.
As part of its commitment to fostering blockchain adoption, Ripple has just announced its latest partnership with Convera, a global commercial payment provider, to facilitate stablecoin settlements among corporate entities.
Convera to leverage Ripple's payment solution via stablecoins
On Tuesday, March 31, Ripple signed a new partnership deal with Convera, reigniting attention around the crypto stablecoin market, while particularly putting RLUSD in the spotlight.
Per the announcement, the partnership will see Ripple work together with Convera to help businesses move money across borders faster, more reliably and with improved liquidity management.
To hedge against crypto market volatility, the partnership focuses on utilizing stablecoin settlements via Ripple’s payment solutions. This follows their aim to build on the “stablecoin sandwich” settlement model, as described by the firm.
With this model, payments among concerned corporate businesses will begin and end in fiat while they leverage regulated stablecoins like the Ripple stablecoin, RLUSD, for settlement in between.
Ripple integrates blockchain with traditional finance
As disclosed by Ripple, the partnership allows both companies to combine their facilities to provide crypto-enabled payment and treasury solutions for businesses across the traditional market.
To achieve this, the collaboration requires Convera to orchestrate the end-to-end payment experience, while Ripple provides its fast-expanding blockchain infrastructure to allow liquidity, on/off-ramping and cross-border settlement.
With this move, Ripple continues to merge the traditional financial with blockchain technology while fostering crypto adoption across the global space.
Dan Burgin
U.Today Editorial Team
Vladislav Sopov
